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NACCO Industries, Inc., a holding company, operates in the mining, small appliances, and specialty retail businesses.
Subsidiaries
North American Coal
The company’s wholly owned subsidiary, The North American Coal Corporation and its affiliated companies (collectively, NACoal), mine and market steam and metallurgical coal for use in power generation and steel production, and provides selected value-added mining services for other natural resources companies.
Coal is surface mined from NACoal's developed mines in North Dakota, Texas, Mississippi, Louisiana and Alabama. Total coal reserves approximate 2.2 billion tons (including the unconsolidated mining operations) with approximately 1.1 billion tons committed to customers pursuant to long-term contracts. NACoal has two consolidated mining operations: Mississippi Lignite Mining Company (MLMC) and Reed Minerals, Inc. (Reed Minerals). NACoal has 10 unconsolidated subsidiaries: The Coteau Properties Company (Coteau); The Falkirk Mining Company (Falkirk); The Sabine Mining Company (Sabine); Demery Resources Company, LLC (Demery); Caddo Creek Resources Company, LLC (Caddo Creek); Coyote Creek Mining Company, LLC (Coyote Creek); Camino Real Fuels, LLC (Camino Real); Liberty Fuels Company, LLC (Liberty); NoDak Energy Services, LLC (NoDak); and North American Coal Corporation India Private Limited (NACC India).
As of December 31, 2013, NACoal's operating mines consisted both of mines where the reserves were acquired (whether in fee or through leases) and developed by NACoal, as well as mines where reserves are owned or leased by the customers of the mines and developed by NACoal.
MLMC's customer, Choctaw Generation Limited Partnership until February 28, 2013 and KMRC RH, LLC subsequent to February 28, 2013, accounted for approximately 42% NACoal's revenues for the year ended December 31, 2013. Reed Minerals' major customer, Alabama Coal Cooperative, accounted for approximately 27% NACoal's revenues for the year ended December 31, 2013.
Sales, Marketing and Operations
The principal coal customers of NACoal are electric utilities, an independent power provider, a coal cooperative and a synfuels plant. Reed Minerals also sells coal to coke processing plants, cement plants and coal brokers in Alabama.
Hamilton Beach Brands
The company’s wholly owned subsidiary, Hamilton Beach Brands, Inc. (HBB), is a designer, marketer and distributor of small electric household appliances, as well as commercial products for restaurants, bars and hotels. HBB’s products are marketed primarily to retail merchants and wholesale distributors.
Sales and Marketing
HBB designs, markets and distributes a range of small electric household appliances, including blenders, can openers, coffeemakers, food processors, indoor electric grills, irons, mixers, slow cookers, toasters and toaster ovens. HBB also markets a line of air purifiers and odor eliminators. In addition, HBB designs, markets and distributes commercial products for restaurants, bars and hotels. HBB generally markets its better and best products under the Hamilton Beach brand and uses the Proctor Silex brand for the good and opening price point products. HBB markets premium stand mixers under the Hamilton Beach eclectrics brand. In addition, HBB supplies Kohl’s with certain Food Network-branded kitchen appliances. HBB has licensed the Melitta brand from Melitta, North America, Inc. for a line of coffee and hot beverage appliances. HBB has also licensed the Jamba brand from Jamba Juice Company. HBB supplies additional private label products on a limited basis throughout North America.
HBB markets its retail products primarily in North America, but also sells products in Latin America, Asia and other selected markets. HBB commercial products are sold worldwide. Retail sales in North America are generated predominantly by a network of inside sales employees to mass merchandisers, national department stores, various store chains, drug store chains, specialty home retailers, distributors and other retail outlets. Wal-Mart accounted for approximately 31% of HBB’s revenues in 2013.
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